SEOUL, July 18 (Korea Bizwire) — The share of South Korean companies in the production capacity of the North American and European separation membrane market is expected to exceed 70 percent by 2030, a report showed Monday. South Korean separation membrane makers, including SK IE Technology Co. (SKIET), W-Scope Chungju Plant Co. (WCP), and LG [...]
SEOUL, July 16 (Korea Bizwire) — Lotte Energy Materials Corp. said Sunday it has signed a deal to make a 7.9 billion-won (US$6.2 million) equity investment in a French electric vehicle battery materials startup as part of its plans to enter the next-generation silicon anode market. In an investment agreement signed Friday, Lotte Energy Materials, [...]
SEOUL, July 12 (Korea Bizwire) — LG Chem Ltd. said Wednesday it has raised US$2 billion by selling exchangeable bonds (EB) that can be converted to shares of its battery-making subsidiary, LG Energy Solution Ltd. The bond sale came in two tranches worth $1 billion each, with the coupon for five-year EBs set at 1.25 [...]
SEOUL, July 11 (Korea Bizwire) — South Korea’s steelmaking giant POSCO Holdings Inc. said Tuesday it will sharply expand its production of key rechargeable battery materials over the next seven years to generate more than 60 trillion won (US$46.4 billion) in sales from the sector. POSCO Holdings said it is aiming to generate 62 trillion [...]
SEOUL, July 9 (Korea Bizwire) — POSCO Holdings Inc., South Korea’s leading steelmaker, said Sunday it has built a secondary battery recycling plant in the southwestern city of Suncheon as part of its push to expand its battery materials business. The plant will be operated by POSCO HY Clean Metal — the joint venture between [...]
SEOUL, July 7 (Korea Bizwire) — SKC Co., a chemical company under South Korea’s SK Group, said Friday it acquired a local semiconductor test equipment maker for 522.5 billion won (US$399 million) as it accelerates its push for a pivot to the manufacturing of semiconductor and battery components. SKC took over a 35.8 percent stake, [...]
SEOUL, July 7 (Korea Bizwire) — LG Energy Solution Ltd. (LGES) said Friday its second-quarter operating profit is expected to have more than tripled from a year earlier on the back of strong demand for electric vehicle batteries. Operating income reached 611.6 billion won (US$468.7 million), compared with 195.6 billion won the previous year, the [...]
SEOUL, July 7 (Korea Bizwire) — LG Energy Solution Ltd. said Friday it has signed a long-term agreement with Chile’s SQM S.A. for the supply of lithium, a key component in electric vehicle (EV) batteries, in the latest move to further bolster the sourcing of raw materials. Under the agreement, SQM will supply 100,000 tons [...]
SEOUL, July 7 (Korea Bizwire) — The joint battery venture between LG Energy Solution Ltd. (LGES) and Stellantis N.V. will receive up to C$15 billion (US$11.2 billion) in incentives for their electric vehicle battery plant under construction in Ontario, Canadian government officials have said. The announcement on Thursday (local time) came a day after LGES [...]
SEOUL, July 6 (Korea Bizwire) — LG Energy Solution Ltd. (LGES) said Thursday its joint venture with Stellantis N.V. has reached an agreement with the Canadian governments on the terms of subsidies for the construction of its electric vehicle (EV) battery plant in Ontario. The binding agreement puts the construction of the battery module manufacturing [...]